AG Yost Fights for More of First Energy Settlement Money to go to Ohio Ratepayers, Not Attorneys

(COLUMBUS, Ohio) — Ohio Attorney General Dave Yost is pushing back on plaintiff counsel’s notion that they should pocket 33% of a First Energy ratepayer class-action settlement.

Class attorneys are seeking final approval of a $49 million settlement with First Energy on behalf of First Energy customers from U.S. District Judge Edmund Sargus, of which the class’ attorneys are requesting one-third be used to cover their own fees.

“The settlement table was set by my office and the U.S. Attorney; now these greedy attorneys are sitting down to dine,” Yost said. “First Energy already shook down Ohio ratepayers. Let’s not let plaintiff attorneys do the same.”

AG Yost on behalf of three state agencies has filed an objection suggesting that a 10% fee is more appropriate based on the fact that the heavy lifting of discovering the crimes and stopping collection of the rider were done by the Ohio Attorney General’s Office and the U.S. Attorney.

If accepted, Yost’s objection would send an additional $10 million to ratepayers. Attorneys would still receive approximately $5 million in fees. The court is scheduled to hold a hearing on objections on Nov. 9.